Applied Materials Inc. (AMAT) Rating Reiterated by Deutsche Bank AG
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank AG in a report released on Thursday. They currently have a $33.00 target price on the manufacturing equipment provider’s stock. Deutsche Bank AG’s price target points to a potential upside of 7.95% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Berenberg Bank boosted their price target on shares of Applied Materials to $35.00 in a research report on Thursday. B. Riley reiterated an “amat ($29.20” rating and issued a $39.00 price target on shares of Applied Materials in a research report on Sunday, August 21st. Credit Suisse Group AG reiterated a “buy” rating on shares of Applied Materials in a research report on Friday, June 10th. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Monday, June 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Applied Materials in a research report on Monday, June 13th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.72.
Applied Materials (NASDAQ:AMAT) traded down 0.95% during midday trading on Thursday, reaching $30.28. The company’s stock had a trading volume of 10,324,593 shares. Applied Materials has a one year low of $14.29 and a one year high of $31.07. The firm has a market cap of $32.73 billion, a P/E ratio of 23.88 and a beta of 1.79. The firm has a 50 day moving average price of $28.85 and a 200 day moving average price of $24.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/applied-materials-inc-amat-rating-reiterated-by-deutsche-bank-ag.html
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Applied Materials will post $1.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is currently 31.25%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $30.15, for a total value of $2,999,653.65. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock worth $107,236,000 after buying an additional 119,577 shares in the last quarter. AXA raised its stake in Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock worth $843,000 after buying an additional 32,700 shares in the last quarter. Pensionfund Sabic acquired a new stake in Applied Materials during the second quarter worth approximately $1,966,000. Hanseatic Management Services Inc. acquired a new stake in Applied Materials during the second quarter worth approximately $534,000. Finally, Seven Eight Capital LLC acquired a new stake in Applied Materials during the first quarter worth approximately $1,439,000. 82.20% of the stock is currently owned by institutional investors.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.